OREANDA-NEWS.   The Black Sea Trade and Development Bank (BSTDB) increased the revolving Trade Finance facility to TuranBank to a total of USD 14 million. The BSTDB facility to TuranBank aims to promote Azerbaijan’s export potential by extending financing to Azerbaijani exporters and importers active in the Black Sea region.
 
“In 2011, BSTDB started cooperation with TuranBank with a USD 4 million credit line, which has been successfully utilized.  BSTDB is pleased to enhance the partnership with TuranBank, demonstrating BSTDB’s continued commitment to Azerbaijan’s foreign trade and financial sector potential” said Mustafa Boran, BSTDB Vice President Banking after the signing of the facility.
 
BSTDB launched its Trade Finance program in Azerbaijan in 2002 and since then has provided over USD 96 million through four partner banks in the country.